RWC is please present for sale, Cale House, 52 The Crescent, Midland, a three level A grade commercial office building, with ground level retail comprising a total net lettable area of 4,030sqm*.
The property is prominently positioned at the intersection of Cale Street and The Cresent, directly opposite Midland Gate Shopping Centre in the heart of Midland.
This multi tenanted asset provides a diverse income stream anchored by blue chip occupants including State Government, Crust Pizza and Baskin Robbins.
The property has a net passing income of $1,249,807p.a and a short term WALE of 2.02 years (based on area) providing a unique opportunity for owner occupiers or an astute investor to reposition the asset for future capital gains.
Property Highlights:
• A grade office/ retail development
• Building area 4,030sqm* (NLA)
• 67 secure basement bays Including two accessible bays
• Net passing income $1,249,807 pa (based on 98% occupancy)
• WALE of 2.02 years (based on area)
• Office tenant (2,990sqm*) to vacate February 2025
• Opportunity for owner occupies to secure their corporate headquarters, or investors to re-let or reposition at market reversions /or a combination of both
• Large office floor plates with central service core allowing for flexibility in subdivision
• High quality office fitout
• Gateway Satellite City servicing Perth's the eastern corridor
• Highly sort after by Not for Profits, Government Agencies, Health and Age Care providers
• New train station relocation to Cale Street
The property is for sale by Offers Invited.
For further details or to arrange an inspection please contact the Agents:
Luke Pavlos
RWC WA
Mobile: 0408 823 823
Email: luke.pavlos@raywhite.com
Brett Wilkins
RWC WA
Mobile: 0478 611 168
Email: brett.wilkins@raywhite.com
* Approximate
